Industrial Shredder Machine Market 2021 Global Analysis and Research February 2017 | Page 2

Further, the report states that one challenge in the market is the fall in commodity prices reducing
demand for scrap. Drop in price of metals such as steel, iron ore, and others has significantly
resulted in the price fall for scrap metals as well. This is downsizing the demand for scrap metals.
This has resulted in large-scale stockpiling of cars at junkyards, stalling the overall auto-shredding
industry in the US. This has negatively impacted its contribution to the national economy. This is
because the US scrap industry is worth more than $100 billion per annum, and contributes
significantly to the country's overall economy.
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